In a survey by the Intermediary Mortgage Lenders’ Association, 53 per cent of intermediaries say technological enhancements would lead them to place more business direct.
Seventy-seven per cent say they use packagers for support in difficult cases. Other reasons cited are wide knowledge, access to exclusive products and on-site underwriters.
Eight-six per cent said they submit sub-prime mortgages via packagers compared with 45 per cent for buy to let and 44 per cent for self-cert.
Director Godfrey Blight says: “It is no great surprise that intermediaries say the most important benefit in using a packager is to help support tricky cases, as well as the access they get to the range of products of a number of lenders, sometimes on an exclusive basis.
“Service and relationship are very important factors and for the most part packagers score very well in this regard. However, in a minority of cases, intermediaries are less than totally satisfied so there is no room for complacency.”